| COMPANY |
Cabot Oil & Gas Corporation |
| COURT |
United States District Court for the Southern District of Texas |
| CASE NUMBER |
21-cv-02045 |
| JUDGE |
The Honorable Lee H. Rosenthal |
| CLASS PERIOD |
October 23, 2015 - June 12, 2020 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a federal securities class action lawsuit brought on behalf of those investors who purchased Cabot Oil & Gas Corporation (“Cabot”) common stock from February 22, 2016 through June 12, 2020 (the “Class Period”).
The complaint alleges that throughout the Class Period, the Defendants concealed and misrepresented that: (1) Cabot had inadequate environmental controls and procedures and/or failed to properly mitigate known issues related to those controls and procedures; (2) Cabot failed to fix faulty gas wells which polluted Pennsylvania’s water supplies through stray gas migration; and (3) Cabot continually downplayed its potential civil and/or criminal liabilities with respect to environmental matters. These issues were foreseeably likely to subject Cabot to increased governmental scrutiny and enforcement, as well as increased reputational and financial harm, and would also materially impact Cabot’s financial results. These omissions and misrepresentations caused Cabot’s stock price to trade at artificially inflated prices throughout the Class Period.
Current Status of Case:
On June 27, 2024, the Court issued an Order granting Lead Plaintiffs’ Unopposed Motion for Preliminary Approval of Settlement and scheduled a Settlement Hearing for October 24, 2024. This action remains ongoing.
The deadline to file a claim is October 16, 2024. If you have any questions or need further information about this settlement, you may go to the following website, https://www.cabotoilsecuritieslitigation.com/, or you can contact the claims administrator, JND Legal Administration at 877-495-5094.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.